Drugmaker shares fall as Trump picks vaccine sceptic RFK Jr for US health job
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 15 2024
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Source: Reuters
Impact of RFK Jr.'s Appointment: Shares in vaccine and drug manufacturers fell sharply after President-elect Trump appointed Robert F. Kennedy Jr., known for spreading vaccine misinformation, to lead the Department of Health and Human Services, raising concerns about the future of biotech regulation.
Market Reaction: The biotech sector experienced significant declines, with major companies like Moderna, Pfizer, and GSK seeing their stock prices drop, reflecting investor anxiety over potential changes in FDA oversight and vaccination efforts under Kennedy's leadership.
Analyst Views on NVAX
Wall Street analysts forecast NVAX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NVAX is 10.50 USD with a low forecast of 6.00 USD and a high forecast of 18.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
6 Analyst Rating
3 Buy
0 Hold
3 Sell
Hold
Current: 9.750
Low
6.00
Averages
10.50
High
18.00
Current: 9.750
Low
6.00
Averages
10.50
High
18.00
About NVAX
Novavax, Inc. is a biotechnology company. It is focused on addressing global health challenges through its vaccines and its proven technology platform, including protein-based nanoparticles and its Matrix-M adjuvant. Matrix-M can be used to create vaccines for a variety of diseases to help tackle some of the pressing health challenges. Its proprietary Matrix-M adjuvant, when added to vaccines, has been shown to help induce a stronger and longer-lasting immune response. Its recombinant protein-based nanoparticle technology has been shown to be highly immunogenetic. Its technology platform is used in its authorized COVID-19 vaccine and the R21/Matrix-M adjuvant malaria vaccine. Its late-stage programs include a COVID-19-Influenzavaccine candidate, and an influenza vaccine candidate. R21/Matrix-M adjuvant malaria vaccine, a malaria vaccine developed by its partner. It provides Matrix-M adjuvant for use in various programs in preclinical and clinical stage, and preclinical investigations.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
